1 January 2022 v2024.6.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP021852412022-01-012022-12-31021852412022-12-31021852412021-12-3102185241core:WithinOneYear2022-12-3102185241core:WithinOneYear2021-12-3102185241core:AfterOneYear2021-12-3102185241core:ShareCapital2022-12-3102185241core:ShareCapital2021-12-3102185241core:RetainedEarningsAccumulatedLosses2022-12-3102185241core:RetainedEarningsAccumulatedLosses2021-12-3102185241bus:Director12022-01-012022-12-3102185241bus:RegisteredOffice2022-01-012022-12-3102185241core:NetGoodwill2022-01-012022-12-3102185241core:OtherResidualIntangibleAssets2022-01-012022-12-3102185241core:OfficeEquipment2022-01-012022-12-3102185241core:PlantMachinery2022-01-012022-12-31021852412021-01-012021-12-3102185241core:NetGoodwill2022-01-0102185241core:NetGoodwill2021-12-3102185241core:PlantMachinery2022-01-0102185241core:PlantMachinery2021-12-3102185241core:AdditionsToInvestments2022-12-3102185241core:DisposalsRepaymentsInvestments2022-12-310218524112022-01-012022-12-3102185241countries:EnglandWales2022-01-012022-12-3102185241bus:AuditExemptWithAccountantsReport2022-01-012022-12-3102185241bus:PrivateLimitedCompanyLtd2022-01-012022-12-3102185241bus:SmallEntities2022-01-012022-12-3102185241bus:FullAccounts2022-01-012022-12-31
Company registration number:
02185241
Business Marketing International Limited
Unaudited Filleted Financial Statements for the year ended
31 December 2022
BRIAN PAUL LIMITED
Chartered Accountants
Chase Green House, 42 Chase Side, Enfield, Middlesex, EN2 6NF, United Kingdom
Business Marketing International Limited
Statement of Financial Position
31 December 2022
20222021
Note££
Fixed assets    
Intangible assets 5 -  
2,726
 
Tangible assets 6 -  
61,708
 
-  
64,434
 
Current assets    
Debtors 8
3,192,213
 
272,860
 
Cash at bank and in hand
3,266,378
 
1,119,417
 
6,458,591
 
1,392,277
 
Creditors: amounts falling due within one year 9
(2,551,687
)
(1,095,462
)
Net current assets
3,906,904
 
296,815
 
Total assets less current liabilities 3,906,904   361,249  
Creditors: amounts falling due after more than one year 10 -  
(200,000
)
Provisions for liabilities -  
(11,283
)
Net assets
3,906,904
 
149,966
 
Capital and reserves    
Called up share capital
1,000
 
1,000
 
Profit and loss account
3,905,904
 
148,966
 
Shareholders funds
3,906,904
 
149,966
 
For the year ending
31 December 2022
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
11 March 2024
, and are signed on behalf of the board by:
S. S. Zaveri
Director
Company registration number:
02185241
Business Marketing International Limited
Notes to the Financial Statements
Year ended
31 December 2022

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Chase Green House
,
42 Chase Side
,
Middlesex
,
EN2 6NF
, United Kingdom. The business address is Elizabeth House, 54-58 High Street, Edgware, Middlesex. HA8 7EJ

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax recognised in the statement of comprehensive income,except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Goodwill

Intangible assets is initially recorded at cost, and is subsequently stated at cost less any accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over the useful economic life of the asset.

Intangible assets

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Other intangible assets
16.67% straight line

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses .
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Office equipment
15% straight line
Plant and machinery
33.3% straight line

Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised in profit or loss.
All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the entity will comply with the conditions attaching to them and the grants will be received.
Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Foreign currency

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit or loss.

4 Average number of employees

The average number of persons employed by the company during the year was
18
(2021:
18.00
).

5 Intangible assets

Goodwill
£
Cost  
At
1 January 2022
198,959
 
Disposals
(198,959
)
At
31 December 2022
-  
Amortisation  
At
1 January 2022
196,233
 
Charge
1,983
 
Disposals
(198,216
)
At
31 December 2022
-  
Carrying amount  
At
31 December 2022
-  
At 31 December 2021
2,726
 

6 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 January 2022
468,255
 
Additions
28,618
 
Disposals
(496,873
)
At
31 December 2022
-  
Depreciation  
At
1 January 2022
406,547
 
Charge
18,182
 
Disposals
(424,729
)
At
31 December 2022
-  
Carrying amount  
At
31 December 2022
-  
At 31 December 2021
61,708
 

7 Investments

Other investments other than loans
£
Cost  
At
1 January 2022
-  
Additions
2,603,302
 
Disposals
(2,603,302
)
At
31 December 2022
-  
Impairment  
At
1 January 2022
and
31 December 2022
-  
Carrying amount  
At
31 December 2022
-  
At 31 December 2021 -  

8 Debtors

20222021
££
Trade debtors -  
99,516
 
Other debtors
3,192,213
 
173,344
 
3,192,213
 
272,860
 

9 Creditors: amounts falling due within one year

20222021
££
Trade creditors -  
169,373
 
Taxation and social security
226,087
 
15,039
 
Other creditors
2,325,600
 
911,050
 
2,551,687
 
1,095,462
 
Included within trade creditors is an amount owed to S.S. Zaveri of £Nil (2021: £31,880), S. Zaveri of £Nil (2021: £990) and International Business Media Inc, of £Nil (2021: £120,883) a parent company incorporated in Dubai .

10 Creditors: amounts falling due after more than one year

20222021
££
Other creditors -  
200,000
 

12 Controlling party

No one individual acting alone can exercise control over the company.